Can TON Hit $3.28? Whale Inflows Surge 42%
Can TON Hit $3.28? Whale Inflows Surge 42%
Toncoin (TON) is showing signs of renewed strength, with a significant increase in whale activity potentially driving the price higher. A 42% rise in whale inflows over the past week, coupled with other positive on-chain metrics, has some analysts predicting a move towards $3.28.
- Whale inflows surged 42%: Large holders are accumulating TON, suggesting bullish sentiment.
- DAA divergence at +41%: This indicates growing user activity, even as the price remains relatively stable, hinting at underlying strength.
- Transaction growth up 34% and new addresses increased by 29.63%: These figures point to increased network adoption and user engagement.
Currently trading at around $2.88, TON has successfully defended the $2.60-$2.70 support level, hinting at a potential short-term bottom. However, key resistance levels remain at $3.15 and $3.28, which have capped price rallies in the past month.
Bullish Indicators Emerge
The combination of strong support, increasing whale accumulation, and a growing user base presents a compelling case for a bullish outlook. The 41.32% Adjusted Price DAA Divergence underscores this positive sentiment, showing a significant increase in user activity compared to price movement. This suggests genuine demand, as opposed to solely speculative trading.
Furthermore, the derivatives market is also displaying signs of bullishness. TON derivatives volume jumped 54.48% to $94.54 million, while Open Interest increased 4.83% to $192.22 million. This high level of activity suggests that traders are anticipating a significant price movement, potentially positioning themselves for a breakout.
The Path to $3.28
Breaking the $3.28 resistance is crucial for TON to gain further upward momentum. A successful breakout could propel the price towards $3.46 and $3.69. However, until this resistance is overcome, TON's price is likely to remain range-bound.
Note: This analysis is for informational purposes only and does not constitute financial advice. Always conduct thorough research and consult with a financial professional before making any investment decisions.
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